Jaguar Announces Gold Production Increase in 2017; Provides Gold Production Guidance for 2017
The company's 2017 gold production guidance has increased approximately 10% year-over-year and is a significant step towards the company's five-year strategic plan of becoming a 200,000 ounce per year producer, focused on organic growth within the prolific mining district of the Iron Quadrangle, located in Minas Gerais, Brazil. Jaguar will be leveraging off of the successes achieved with its Operational Excellence Program at the Turmalina Gold Mine ("Turmalina") in 2016 and plans to expand the program into Pilar Gold Mine ("Pilar") during 2017. Gold production of 100,000 - 110,000 ounces, up approximately 10% compared to 2016 guidance. Growth exploration investment (core operating assets) of $7.5 million - $8.0 million.